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SACCI QUARTERLY REVIEW

The world economy opened 2015 with extreme oil price decreases although there has been a gradual increase in prices in the second quarter.

In the United States, activity stalled in Quarter 1 partly as a result of another cold winter, disruptions to port activity, sharp cutbacks in capital expenditure in the oil and gas industry and residual calendar effects.

The recovery in the United Kingdom remains on track despite mixed data in the first quarter, including indications of weak construction and manufacturing activity.

The recovery in the Euro Area has progressed more rapidly than expected since late 2014, supported by a weakening euro, declining oil prices, record low interest rates

Activity in Japan started picking up in late 2014 and was robust in the first quarter of 2015.

As structural adjustments and policy efforts to address financial vulnerabilities continue, growth in China is expected to decelerate modestly to 7.1 percent in 2015 and 6.9 percent by 2017.

Growth in BRICS (except China) is soft and has increasingly diverged.

The doing business in South Africa report was launched on 12 June 2015 by the World Bank in collaboration with National Treasury, The Department of Trade and Industry and South African Cities Network.